Radian Group Inc (RDN) Holdings Raised by Royce & Associates LP
Royce & Associates LP boosted its holdings in shares of Radian Group Inc (NYSE:RDN) by 21.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 583,200 shares of the insurance provider’s stock after acquiring an additional 102,500 shares during the quarter. Royce & Associates LP’s holdings in Radian Group were worth $9,460,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of RDN. Argent Capital Management LLC lifted its holdings in Radian Group by 21.8% during the 2nd quarter. Argent Capital Management LLC now owns 45,250 shares of the insurance provider’s stock worth $734,000 after buying an additional 8,090 shares during the last quarter. Bruni J V & Co. Co. lifted its holdings in Radian Group by 0.8% during the 2nd quarter. Bruni J V & Co. Co. now owns 2,321,679 shares of the insurance provider’s stock worth $37,658,000 after buying an additional 19,076 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in Radian Group by 231.1% during the 2nd quarter. GSA Capital Partners LLP now owns 122,641 shares of the insurance provider’s stock worth $1,989,000 after buying an additional 85,596 shares during the last quarter. Martingale Asset Management L P lifted its holdings in Radian Group by 14.8% during the 2nd quarter. Martingale Asset Management L P now owns 150,831 shares of the insurance provider’s stock worth $2,447,000 after buying an additional 19,417 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in Radian Group during the 2nd quarter worth about $18,839,000. 92.60% of the stock is owned by institutional investors.
A number of brokerages have issued reports on RDN. B. Riley lifted their price target on Radian Group from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, August 7th. TheStreet upgraded Radian Group from a “c+” rating to a “b-” rating in a research report on Tuesday, July 31st. ValuEngine cut Radian Group from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. Zacks Investment Research upgraded Radian Group from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Tuesday, July 17th. Finally, MKM Partners cut their target price on Radian Group from $27.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, June 5th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $23.11.
Radian Group (NYSE:RDN) last issued its quarterly earnings results on Thursday, July 26th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.09. The firm had revenue of $319.30 million for the quarter, compared to analysts’ expectations of $320.34 million. Radian Group had a return on equity of 16.10% and a net margin of 31.87%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 EPS. equities research analysts forecast that Radian Group Inc will post 2.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Monday, August 27th will be given a $0.0025 dividend. This represents a $0.01 annualized dividend and a yield of 0.05%. The ex-dividend date of this dividend is Friday, August 24th. Radian Group’s dividend payout ratio (DPR) is presently 0.55%.
Radian Group declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 16th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Radian Group Profile
Radian Group Inc, through its subsidiaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance, as well as other credit risk management solutions to mortgage lending institutions; and primary mortgage insurance coverage on residential first-lien mortgage loans.
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